Strategy - The Art of Creating and Sustaining Competitive Advantage

by Karen Corrigan

The development and implementation of strategy is the principal means to create and sustain competitive advantage over the long term. It requires continuous leadership attention and engagement in ever-higher levels of strategic thinking, discussion and decision-making. Strategy cannot be delegated; it is the core duty of boards and executives to define the future and to lead the company, its people, its customers and even its competitors, in that direction. Successful organizations approach strategy as the compilation of processes to define the boundaries of the business, redefine the basis of competition through innovation, and create an organization capable of success in ever-changing and unpredictable markets.